| The lack of conviction in the market may be responsible for what analysts are calling a lukewarm response to a new public offering on Wall Street. Kraft Foods, the biggest U.S. food-maker, made its trading debut Wednesday. It started off on a high note, but interest tapered off during the trading session. Some experts say it could also be that Kraft shares were priced at the top end of the price range, and investors simply felt there was no place for the stock to go in a slower economic environment. It was the second largest initial public offering in U.S. history, after AT&T Wireless last year, raising more than $8.5 billion for Kraft's parent company Philip Morris. Philip Morris still owns about 84% of Kraft. |
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